Thornburg Investment Management Inc. Sells 12,429 Shares of On Holding AG (NYSE:ONON)

Thornburg Investment Management Inc. cut its position in shares of On Holding AG (NYSE:ONON - Free Report) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,030 shares of the company's stock after selling 12,429 shares during the period. Thornburg Investment Management Inc.'s holdings in ON were worth $7,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Advisors Inc. OK lifted its stake in shares of ON by 3.2% in the 4th quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company's stock valued at $350,000 after purchasing an additional 200 shares during the last quarter. Keystone Investors PTE Ltd. boosted its position in ON by 0.8% during the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company's stock worth $1,639,000 after purchasing an additional 228 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of ON by 2.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company's stock worth $516,000 after buying an additional 259 shares during the last quarter. CreativeOne Wealth LLC grew its stake in ON by 2.4% in the 4th quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company's stock valued at $743,000 after buying an additional 323 shares during the last quarter. Finally, Atria Investments Inc lifted its position in ON by 6.6% during the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company's stock worth $302,000 after acquiring an additional 341 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

ON Stock Up 0.4%

Shares of ONON traded up $0.21 during trading hours on Friday, hitting $59.03. The company had a trading volume of 2,239,250 shares, compared to its average volume of 4,623,543. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The business has a fifty day moving average of $47.16 and a 200-day moving average of $52.03. The firm has a market cap of $37.17 billion, a price-to-earnings ratio of 137.00, a PEG ratio of 1.02 and a beta of 2.30.

Wall Street Analyst Weigh In

Several research analysts have commented on ONON shares. Stifel Nicolaus lifted their price target on ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Raymond James reissued a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Cowen reaffirmed a "buy" rating on shares of ON in a report on Wednesday, May 14th. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 price objective on shares of ON in a report on Tuesday, May 13th. Finally, Williams Trading boosted their price objective on ON from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ON has an average rating of "Buy" and an average price target of $62.45.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.